Fastwyre to Acquire Moundville Communications, Entering Alabama Market
SULPHUR, La., Sept. 19, 2022 (GLOBE NEWSWIRE) -- Fastwyre Broadband (“Fastwyre” or the “Company”), a leading broadband service provider to communities throughout the United States, today announced it has entered into a definitive agreement to acquire Moundville Communications, Inc. (“Moundville Communications”), a leading telecommunications provider in Central Alabama. The acquisition, expected to close in the fourth quarter of 2022, will expand the Company’s broadband services into Alabama.
“The sale to Fastwyre represents a tremendous opportunity for Moundville Communications to evolve into a regional fiber-based broadband provider,” said Scott Taylor, President and CEO of Moundville Communications. “With the support and resources of Fastwyre, Moundville Communications will be well-positioned to continue our commitment made 90 years ago of serving our community and customers, while expanding the availability of high-quality broadband services to new communities in Alabama.”
“We are committed to making Fastwyre a leading broadband service provider in Alabama,” said Chris Eldredge, CEO of Fastwyre. “We are excited to welcome the customers of Moundville Communications to Fastwyre and provide them with best-in-class service that our current customers are accustomed to receiving tody. The acquisition of Moundville Communications provides Fastwyre with immediate access to an attractive market in Central Alabama while also providing a road for further expansion of high-quality, reliable broadband services into new Alabama communities.”
“We are delighted to announce the acquisition of Moundville Communications and look forward to welcoming its customers, employees and community to the Fastwyre platform,” said Jason Nicolay, SVP of Corporate Development at Fastwyre. “Working alongside Moundville Communications, we will ensure a seamless experience for its customers. We will continue seeking new acquisition opportunities throughout Alabama and the rest of the U.S.”
Stinson LLP served as legal counsel and UHY LLC served as financial advisor to Fastwyre in connection to this transaction. Wilkerson & Bryan, P.C. served as legal counsel to Moundville Communications.
About Fastwyre Broadband
Fastwyre Broadband is a portfolio company of Madison Dearborn Partners, LLC, a leading private equity firm based in Chicago, and Catania ABC Partners.
More information about Fastwyre Broadband can be found at www.Fastwyre.com.